Stiritz Has No Plans to Sell Herbalife Stake Following Talks
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Bill Stiritz, Herbalife Ltd.’s fifth-largest investor, said he has no plans to sell his stake in the nutrition company after changing his status to a passive holder from an active one.
Stiritz said he had previously discussed “options” with Herbalife about how to handle a two-year battle with billionaire hedge fund manager Bill Ackman, who has accused the nutrition company of running an illegal pyramid scheme. Stiritz reported that he’s no longer in active discussions with management and disclosed his change to passive investor status in a filing April 3 with the U.S. Securities and Exchange Commission.